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How to come out on top of the Minnesota real estate game.

Here is a list of tip and tricks to assist you in your Minnesota real estate search:

  • Sellers don’t want to waste time: Keep in mind that time is a huge factor for most sellers in the Minnesota real estate market. More likely than not they already have another property or investment in their sights, and secretly would like a swift transaction when selling their current abode. It’s not unheard of for sellers to accept a lower offer if they know that it can be an open and shut deal. That means it is in the buyers best interest to have all of their paperwork in-hand and possibly even your lender ready to give you the green light when the time presents itself.
  • Cash is king: Even though conventional buying methods are on the rise, cash is still sought after when closing a real estate deal quickly. It’s beneficial to all parties involved because you avoid the nail biting loan approval process, which discourages some sellers from the beginning. In fact all-cash offers make up about 40% of real estate recent sales.
  • Escalation Clause: Do you really want the property? Is it something that you simply can’t let go of? Well in that case, there is a clause that is designed just for you. The ‘escalation clause’ basically ensures that if a Minnesota real estate bidding war irrupts that you are immediately one-upping the competition. Simply put, the clause says that you are willing to pay anywhere from $1,000 to $10,000 over the current highest bid.
  • Be the first to act and show interest: Being first to jump on a property is key in the Minnesota real estate game. Obviously if you get your offer in immediately it preempts later offers and cuts out the competition. Some realty sites now have a ‘coming soon’ section that offers buyers a list of properties that haven’t yet hit the market. Kind of a showcase of up and coming homes. Abuse that tool when given the chance.

minnesota real estate

Follow these tiny tidbits of Minnesota real estate advice and you can save yourself some stress when on the hunt for a new investment property or home.

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How to come out on top of the Minnesota real estate game.
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Showcasing a list of tips to better assist home buyers combat issues like bidding wars in today's competitive Minnesota housing market.
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